In the previous post, Create a Team for Audit Analytics? Part 1, I explored the pros and cons of developing an analytics team.
This team consists of analytic auditors who are dedicated to analytic projects; they would NOT typically manage audits or testing that did not include analytics.
In this post, let’s explore another option for managing and growing analytics in an audit department — expecting all auditors to develop a level of data and analytic proficiency.
This is the second post of a 3-part series…
Once your audit team has proven the value of doing analytics consistently, the next question is: Do we create an analytics team and have the team do all (or the majority) of the analytics?
Or should we expect all auditors to develop some levels of analytics proficiency?
Of course, this question often comes a bit further down the trail on the analytics journey, but I think the sooner it is decided, the better.
This is the first post of a 3-part series…
Here’s the 5 things I’m hoping will change in 2018 regarding ACL.
They are all related to each other and feed off each other…
If you’ve every wondered what Audit Command Language (ACL) is, here’s a quick way to find out.
ACL has provided a quick, one-page introduction to ACL. And I mean quick.
It doesn’t explain a lot, but it gives you a quick peek at the basic user interface.
You could call it the ACL Overview for Dummies.
At a company I worked at recently, I ran across a Sharepoint site and wondered whether I could download data that I wasn’t supposed to see.
Now I understand the purpose of SharePoint and company intranets is to share data, but even then, some data should be restricted to a limited number of people.
So I decided to check (before doing things like this, you better know How to Stay Out of Jail).
If YOUR audit department doesn’t embrace data, analytics, and automation eventually, your audit department will NOT exist.
No data, no analytics. No analytics, no automation. Eventually, no audit department.
Editor Note: This post really applies to all departments in a company, but mainly I’m addressing auditors, but you might want to read between the business lines….
By embrace, I don’t mean have one or two auditors working on this. I mean the entire department.
Before you cite all the regulatory requirements mandating the existence of an audit department in companies, having an audit department in name only won’t cut it.
Having an inept audit department will not be acceptable to regulators, and it shouldn’t be acceptable to company management either. Or Audit Committees!
Companies need skilled and efficient auditors that can do the heavy lifting, and this need will only increase.